Banco de Chile (NYSE:BCH) Downgraded to Sell Rating by StockNews.com

StockNews.com cut shares of Banco de Chile (NYSE:BCH) from a hold rating to a sell rating in a research note issued to investors on Friday.

Separately, JPMorgan Chase & Co. upped their target price on shares of Banco de Chile from $21.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th.

Banco de Chile Price Performance

NYSE:BCH opened at $24.71 on Friday. The stock has a market cap of $12.48 billion, a PE ratio of 8.86 and a beta of 0.44. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 1.99. The business’s 50-day simple moving average is $23.20 and its two-hundred day simple moving average is $23.86. Banco de Chile has a 52 week low of $20.93 and a 52 week high of $25.97.

Banco de Chile (NYSE:BCH) last posted its quarterly earnings results on Tuesday, October 29th. The bank reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.03). Banco de Chile had a return on equity of 22.69% and a net margin of 30.00%. The business had revenue of $980.10 million during the quarter, compared to analysts’ expectations of $796.96 million. As a group, analysts forecast that Banco de Chile will post 2.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Banco de Chile

Several institutional investors have recently added to or reduced their stakes in BCH. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Banco de Chile by 41.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,416 shares of the bank’s stock valued at $100,000 after acquiring an additional 1,291 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in Banco de Chile during the third quarter valued at $36,000. R Squared Ltd purchased a new position in shares of Banco de Chile in the 4th quarter worth $94,000. Blue Trust Inc. increased its holdings in shares of Banco de Chile by 39.8% in the 4th quarter. Blue Trust Inc. now owns 15,574 shares of the bank’s stock worth $353,000 after buying an additional 4,434 shares during the last quarter. Finally, Barclays PLC raised its position in shares of Banco de Chile by 81.8% during the 3rd quarter. Barclays PLC now owns 11,151 shares of the bank’s stock valued at $282,000 after buying an additional 5,016 shares in the last quarter. Hedge funds and other institutional investors own 1.24% of the company’s stock.

About Banco de Chile

Banco de Chile, together with its subsidiaries, provides various banking services to customers in Chile. The company offers checking and debit accounts, debit and credit cards, and lines of credit; mortgage, consume, commercial, general purpose mortgage loans, and finance leases; and factoring services, mutual fund management, stock brokerage, foreign trade, payments and collections, insurance brokerage, including life and general insurance, as well as time deposits, savings instruments, and foreign currency services through branches under the Banco de Chile and Banco Edwards brands.